Chandan Healthcare IPO
Open SmeCurrent GMP
₹3 (+1.89%)
Price Band
₹ 151 – 159
Lot Size
800
Issue Size
₹107.36 Cr
Minimum Investment
₹254400 (1600 Shares)
Listing Date
17 February 2025
Subscription
7.12x
About the Company
Chandan Healthcare Limited operates a diagnostic network in North India, offering both pathology and radiology testing services. As of December 31, 2024, the company operates one flagship laboratory, nine central laboratories, and 27 satellite centers, along with over 300 collection centers. These facilities are spread across cities in Uttar Pradesh and Uttarakhand. Notably, eight laboratories have National Accreditation Board for Testing and Calibration Laboratories (NABL) accreditation, and three diagnostic centers hold National Accreditation Board for Hospitals & Healthcare Providers (NABH) accreditation.
Services and Revenue:
- Chandan Healthcare provides a broad range of over 1,496 tests, including routine pathology tests (biochemistry, hematology) and specialized tests (e.g., molecular pathology, immunohistochemistry, MRI, CT scans).
- The company also offers radiology services, operating 11 CT scanners and 4 MRI machines.
- Revenue distribution in 2024 shows 47% from product sales, 34.22% from pathology services, and 18.77% from radiology services.
- A significant portion of revenue comes from B2B sales to corporate clients, contributing over 60% of total revenue in recent years, while B2C (individual patient) revenue contributes about 37.69%.
Operational Model:
- Chandan Healthcare follows a hub-and-spoke model, where samples are collected from various centers (including home collection services) and transported to central labs for testing. This enhances efficiency and reaches customers in remote areas.
- It operates in multiple locations with a total of one flagship laboratory, nine central reference laboratories, and 27 satellite laboratories.
Key Personnel and Subsidiaries:
- The company employs radiologists, pathologists, and over 161 qualified professionals, including technicians and operators.
- Chandan Healthcare's subsidiary, Chandan Pharmacy Limited (CPL), was incorporated in 2017 and operates 31 medical stores. CPL contributes a significant portion of the group's consolidated revenue, primarily from pharmaceutical, FMCG, and surgical product sales.
Flagship and Central Laboratories:
- The flagship laboratory is located in Jankipuram, Uttar Pradesh, offering various specialized departments, including clinical biochemistry, histopathology, microbiology, and molecular pathology.
- The central laboratories are spread across Uttar Pradesh, Uttarakhand, and Rajasthan, processing routine and specialized tests.
Products and Services:
- Diagnostic services include routine and specialized pathology and radiology tests, wellness services, preventive care packages, and home collection services.
- The company also sells medical consumables, such as reagents, X-ray films, and other healthcare products through CPL, including a wide variety of pharmaceutical and surgical products.
In summary, Chandan Healthcare Limited has established a significant presence in the diagnostic sector in North India, offering integrated pathology and radiology services, while also expanding into pharmaceutical retail through its subsidiary. The company's wide service network, skilled workforce, and accreditation help maintain quality and reliability in the healthcare sector.
Promoters
- Amaranita Holdings (India) Private Limited
- Amar Singh, Asmita Singh
- Alok Singh
- Shaleen Solanki
- Vijay Singh
- Vinay Lamba
Promoters Holding
Holding Pre Issue
69.96%
Holding Post Issue
0.00%
Objects of the Issue
The company proposes to utilize the Net Proceeds from the Offer towards the following objects:
- Setting up a new Flagship Diagnostic Centre in Jankipuram, Lucknow, Uttar Pradesh.
- Setting up a new Central Reference laboratory at Ayodhya, Uttar Pradesh
- Setting up a new Central Reference laboratory at Ashiyana, Lucknow, Uttar Pradesh.
- General corporate purposes.
Address / Contact Info
Chandan Healthcare Limited
Biotech Park, Sector G,
Jankipuram, Kursi Road,
Lucknow-226021
Uttar Pradesh, India
Phone: +91 8429024430
Email: secretarial@chandan.co.in
Website: https://www.chandandiagnostic.com/
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Monday, 10 February 2025
IPO Close Date
Wednesday, 12 February 2025
Basis of Allotment
Thursday, 13 February 2025
Initiation of Refunds
Friday, 14 February 2025
Credit of Shares to Demat
Friday, 14 February 2025
Listing Date
Monday, 17 February 2025 — NSE & BSE
Important Dates
Open Date
10 February 2025
Close Date
12 February 2025
Basis Of Allotment
13 February 2025
Listing Date
17 February 2025
Financial Performance (₹ in Crores)
| Particular | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 170.06 | 128.86 | 97.83 | 81.23 |
| Revenue | 167.98 | 177.95 | 137.03 | 119.92 |
| Profit After Tax | 17.42 | 16.36 | 3.59 | -1.09 |
| Net Worth | 54.31 | 41.09 | 27.3 | 23.93 |
| Reserve & Surplus | 34.31 | 21.16 | 7.37 | 4 |
| Total Borrowings | 51.92 | 42.01 | 21.36 | 16.58 |
EPS Pre
8.18%
EPS Post
9.50%
P/E Pre
19.44
P/E (Post Issue)
16.74x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | KPI as of Mar 31, 2024. |
|---|---|
| ROE % | 47.5 |
| ROCE % | 35.2 |
| Debt / Equity | 1.02 |
| RoNW % | 39.54 |
| PbW | 0 |
| Pat Margin % | 9.26 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Anchor Investors | 1850160 | 27.4 | 0 |
| Qualified Institutions | 1233440 | 18.27 | 0 |
| Non-Institutional | 925080 | 13.7 | 0 |
| Retail Investors | 2158520 | 31.97 | 0 |
| Employees | 245600 | 3.64 | 0 |
| Total | 6752000 | 100 | 0 |
Subscription Status ( Wed, 12 Feb 25 01:00 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 1233440 | 9356800 | 7.59x |
| Non-Institutional | 925080 | 17791200 | 19.23x |
| Retail Investors | 2158520 | 5272800 | 2.44x |
| Employees | 245600 | 51200 | 0.21x |
| Total | 4562640 | 32472000 | 7.12x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
No Peer Comparision Available
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 800 | 127,200.00 |
| Retail (Max) | 1 | 800 | 127,200.00 |
| S-HNI (Min) | 2 | 1,600 | 254,400.00 |
Registrar
Kfin Technologies Limited
04067162222, 04079611000
reachus@kfintech.com
https://www.kfintech.com
Book Running Lead Managers
- Unistone Capital Pvt Ltd
RHP Document
DRHP Document
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Chandan Healthcare IPO is a Book-building IPO worth ₹107.36 crores. The price band is ₹151 to 159 per share. The IPO opens on Mon, Feb 10, 2025 and closes on Wed, Feb 12, 2025. It will be listed on BSE and NSE. Kfin Technologies Limited is the registrar.
The Chandan Healthcare IPO opens on Mon, Feb 10, 2025 and closes on Wed, Feb 12, 2025
Chandan Healthcare IPO Price Band is ₹151 to 159.
Chandan Healthcare IPO lot size is 800, and the minimum amount required for application is ₹254400.
The minimum investment for Chandan Healthcare IPO is approximately ₹254400 based on the upper price band.
To apply for the Chandan Healthcare IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Wed, Feb 12, 2025. After submission, funds are blocked until the basis of allotment of Chandan Healthcare IPO is finalised.
Chandan Healthcare IPO issue size is ₹107.36 crores.
Chandan Healthcare IPO allotment date is Sat, Jun 27, 2026.
The registrar for Chandan Healthcare IPO is Kfin Technologies Limited. Investors can go to Kfin Technologies Limited website for IPO allotment status, refund processing, and other queries related to Chandan Healthcare IPO through their official website or helpline.
The Chandan Healthcare IPO GMP (Grey Market Premium) is ₹3 as of Fri, Feb 14, 2025. Based on the upper price band of ₹159 per share, the estimated Chandan Healthcare IPO listing price is ₹162, indicating a potential listing gain of approximately 31% over the issue price.